Time Warner

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It was in the mid-80s that Carl Icahn shot to fame with his hostile take-over bids for Texaco, US Steel, TWA, Pan Am and RJR Nabisco. His aggressive posturing led to him being called, among other things, a vulture capitalist and a greenmailer. Unlike many Street legends, the 69 year old Icahn is a self-made billionaire. As a young man he tried to attend med-school to please his mother but soon found out that human anatomy was not his cup of tea. He then joined the army for a while before entering the Street in 1961 as a stock-broker at Dreyfus and Company.

WASHINGTON: America Online on Thursday shunned a Microsoft proposal to help weed out unwanted "spam" e-mail because internet engineers are reluctant to adopt technology owned by the dominant software company. AOL, a division of Time Warner, said it would not adopt Microsoft's SenderID protocol because it failed to win over experts leery of Microsoft's business practices. "AOL will now not be moving forward with full deployment of the SenderID protocol," AOL spokesman Nicholas Graham said in a statement.

NEW DELHI: Time Warner may be looking at business opportunities in India, including strengthening ties with its current Indian partner, the Subhash Chandra-promoted Zee Telefilms, reports said on Wednesday. Time Warner Inc chairman and CEO Richard D Parsons, who is in India on a flying visit, met government officials, representatives of Indian corporate houses and colleagues from various group companies - Turner's satellite TV channels like CNN and Cartoon Network, Warner Bros.

NEW DELHI: Time Warner may be looking at business opportunities in India, including strengthening ties with its current Indian partner, the Subhash Chandra-promoted Zee Telefilms, reports said on Wednesday. Time Warner Inc chairman and CEO Richard D Parsons, who is in India on a flying visit, met government officials, representatives of Indian corporate houses and colleagues from various group companies - Turner's satellite TV channels like CNN and Cartoon Network, Warner Bros.

NEW YORK: Time Warner, the world's largest media company, reported a fourth quarter profit, reversing a whopping loss the year before, led by strong film and cable television results. The company, in the process of selling its music business, said its fourth quarter net profit was $638m, or 14 cents per share, compared with a net loss of $44.9bn, or $10.04 per share, a year earlier when it recorded a huge writedown of its America Online unit. Quarterly revenue rose 6% to $10.9bn, reflecting increases in all segments except America Online.

NEW YORK: America Online says it plans to launch a lower priced online service to thwart competitors from luring bargain hunters and savvy Web users, who can do without its flagship's bells and whistles. The new service will launch under the Netscape brand, which AOL owns, and will cost $9.95 (5.5 pounds) a month starting in March. It will also be backed by a full-fledged marketing campaign, beginning with a splashy auction on eBay of the most popular e-mail names, followed by a heavy online and direct marketing promotion campaign.

NEW YORK: With his $2.6 billion purchase of Warner Music from Time Warner Inc., Edgar Bronfman Jr. is betting that a privately-held record company can be more nimble and more artist-friendly than one beholden to the whims of public shareholders and quarterly earnings. Many executives believe such labels are able to take risks that publicly-held labels cannot. And while Warner will not escape the sharp knife of job cuts and roster reductions, some believe the cuts will not be as deep as if it remained public.

NEW DELHI: India is changing lobbyists in the US. After years of patronising one of Washington's oldest firms, Verner Liipfert, Bernhard, McPherson and Hand, India will be taking its custom to one of the top three lobbying giants in the Beltway: Akin, Gump, Strauss, Hauer & Feld, known for its unusually close ties to the White House, while on Capitol Hill, it comfortably straddles both Democrats and Republican parties. Partners at Akin Gump include one of George W. Bush's closest Texas friends, James C. Langdon and George Salem, a Bush fund-raiser, while another partner is Barnett A. "Sandy" Kress, who Bush nominated in January to work for the White House.

When AOL-Time Warner announced what was then touted as the most dramatic merger in corporate history, few would have imagined that just three years down the line the merged entity would once again grab headlines. But for a much less happy reason: for announcing the biggest annual loss in corporate history. At $98.7 billion, a figure that is roughly equal to Ireland's GDP, the company's loss is distressing evidence of just how mistaken markets can be. In January 2000, when the Internet company America Online and media and communications giant Time Warner announced their merger, internet hype was at its peak.

SO AOL Time Warner busted $54 billion on the Internet. It's a world record. So too was AOL joining Time Warner. As they say, the bigger they are the louder they fall. Particularly so with the Net, as the Internet Phantom would say. Internet Phantom? I first wrote his story around seven years ago. It was then the wild frontier days of the Internet. A small brash tribe still fought to keep the dollar demon out. They believed the Internet was the last hurrah for free-flowing information rivers.